On Monday, Chongqing declared the first individual property tax totaling more than six thousand yuan. The past several months have witnessed a number of government measures aimed at cooling the rise of house prices in China. In addition to action by the central government, Shanghai and Chongqing are introducing property taxes on high end homes.?

To explore the affect of recent government policies on the property market, we're joined on the line by Mo Tianquan, chairman of soufun.com. Good evening, Mr. Mo, thanks for joining us,

Q1: There have now been a string of measures to crack down on property speculation and rein in home prices, but the market still remains hot. What's behind the phenomenon and what do you see happening in this year's housing market?

Q2: There's concern housing prices will continue going up in smaller cities despite those strict measures. What's your take on the situation?